US EditionUS May Release More Oil From Reserve to Push Prices Down, ‘Unsanction’ Iran Fuel: Bessent
The US plans to release about 140 million barrels of Iranian oil stranded on tankers, adding 10 to 14 days of supply to global markets to ease prices above $100 per barrel.
- On Thursday, Treasury Secretary Scott Bessent said 'We unsanctioned Russian oil... in the coming days, we may unsanction the Iranian oil that's on the water', which equals about 10 days to two weeks of supply headed to China.
- The South Pars gas field, shared by Iran and Qatar, is one of the world’s largest reserves and sits offshore in the Persian Gulf, raising strategic stakes amid supply disruptions.
- Market moves and recent sanction changes show that Brent crude surged from $106 to $118 per barrel by Thursday morning, after lifting sanctions on Venezuelan and Russian oil.
- On Thursday, the first six days of the Iran war cost taxpayers more than $11.3 billion, and 13 U.S. soldiers have been killed, with over 1,400 Iranian civilians dead.
- Reports that U.S. and Israeli officials knew about the South Pars attack complicate official accounts, while allies warn prolonged involvement and easing sanctions create policy contradictions.
16 Articles
16 Articles
New York, 19 Mar (EFE).- U.S. Treasury Secretary Scott Bessent said Thursday that Donald Trump's government is studying emergency measures, such as unlocking Iranian crude oil and using its own reserves, to contain the escalation of oil and other raw materials prices, in the context of the prolongation of the war conflict with Iran.In an interview with Fox Business, Bessent revealed that the Trump administration is considering “withdrawing sanct…
Washington had already authorized the sale of Russian oil stored on ships. Scott Bessent also mentioned potential new releases from US strategic reserves.
U.S. Treasury Secretary Scott Bessent said Thursday that Washington could "lift sanctions" on Iranian oil that is already on board and...
The U.S. Treasury Secretary has put on the table this possibility, which will affect the oil loaded on ships, while the war continues. More information: The European refusal to collaborate in Ormuz's military control unleashes Trump's anger and puts the future of NATO at risk.
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